Possibly they just want a risk-free trade. Who wouldn't?SRZ mgmt...

Possibly they just want a risk-free trade. Who wouldn't?

SRZ mgmt gave them a 35% discount on the placement, plus another 7% (iirc) of total CR proceeds. That basically de-risks everything for TC. They can dump everything at 2.3 - 2.4 if they want, and still pocket several hundred thousand dollars in easy, virtually risk-free profit. Not bad

I wish SRZ had shopped around for a broker offering better terms. I also wish they offered existing shareholders an opportunity to participate (I suspect they could have raised a half million dollars this way, probably at a much higher price)

It was a very bad, lazy, harmful raise. Yet received strong support from the share registry.